Thought the same thing. I got the notification and deleted my account.
It's pretty funny too, since someone asked me to Paypal them some money shortly after. As I didn't have an account anymore, we used Zelle instead.
I guess some middle manager gets to make some slides about how they made x amount of money out of inactivity fees, while ignoring all of the business the company lost.
You can't destroy a business when they have lobbyist that will get politicians to bail them out and send them socialism checks while they complain about people getting money to afford food.